Eaton tells GlobeSt.com that the 10 assets in California stretch from San Juan Capistrano, CA up to Roseville, CA and are all development projects. He points out that it is very difficult to assess total square footage of the properties “as several of these projects are land and finished lots with no construction.” However, the California properties consisted of 37 standing inventory, 191 finished lots and 191 partially improved lots.

“The process of conducting a multistate sale through a receivership estate with three separate courts, 12 unique buyers, and a lending group comprised of five banks and the FDIC was both challenging and interesting,” Eaton tells GlobeSt.com. “Our company’s strategy is to provide a wide range of expert third party services to lenders and receivers. We manage and dispose of real estate assets with full transparency to our clients ensuring that they meet all fiduciary requirements to their stakeholders.”

Land Interests is a full service real estate advisory, asset management, brokerage and investment advisory firm specializing in the evaluation, strategy formulation, implementation, management, and disposition of commercial, residential and multifamily properties and mortgage notes. According to a prepared statement, the company has established a “unique reputation for the quality and return on cost of their services, resulting in the management and disposition of many of the largest defaulted credit facilities over the past three years,” including: the Hacienda Homes and Trend Homes Portfolios in Arizona, the Barratt American and Ennis Homes Portfolios in California, along with the multistate John Laing Homes Portfolio and a $65-million Bank Note Pool currently listed. The John Laing portfolio, according to the release, represents the second large credit facility that Land Interests has disposed of in the last year. According to Eaton, “Paladin did a terrific job negotiating the settlement and release of more than 300 liens prior to the first close of escrow which resulted in a greater net recovery for the estate as well as saving the lender group a considerable amount of money above and beyond the costs of foreclosure.”